Pacer Advisors Inc. Acquires 329,403 Shares of Docusign Inc. $DOCU

Pacer Advisors Inc. lifted its holdings in Docusign Inc. (NASDAQ:DOCU) by 43.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,037 shares of the company’s stock after buying an additional 329,403 shares during the quarter. Pacer Advisors Inc. owned approximately 0.57% of Docusign worth $51,773,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DOCU. Norges Bank bought a new stake in Docusign during the fourth quarter worth about $186,795,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Docusign by 76.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares in the last quarter. Capital World Investors lifted its holdings in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Docusign by 452.3% during the first quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after purchasing an additional 1,076,622 shares during the last quarter. Finally, Woodline Partners LP boosted its position in shares of Docusign by 24,412.7% in the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Transactions at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the transaction, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $546,480.00. Following the sale, the insider directly owned 52,815 shares in the company, valued at $2,405,195.10. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 76,695 shares of company stock valued at $3,476,002. Insiders own 0.59% of the company’s stock.

Docusign Stock Up 0.5%

Shares of DOCU opened at $55.13 on Tuesday. The company has a market capitalization of $10.53 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87. The firm has a 50 day moving average of $48.53 and a 200 day moving average of $48.25. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts expect that Docusign Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on DOCU. Wedbush cut their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Wells Fargo & Company lowered their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Jefferies Financial Group boosted their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $60.27.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.